Backgrounder

Will Firli’s extortion charges lead the KPK into the abyss?

Public trust in the Corruption Eradication Commission (KPK) may have hit a record low after the Jakarta police named the antigraft body's chairman Firli Bahuri a suspect for allegedly extorting former agriculture minister Syahrul Yasin Limpo. To regain the much-needed credibility, President Joko "Jokowi" Widodo suspended Firli and appointed Nawawi Pomalongo as an interim leader, but the move did little to help the KPK regain ground.

WSKT bond defaults poses risk to insurance, pension funds

PT Waskita Karya (WSKT) and subsidiary Waskita Beton Precast's (WSBP) failure to pay bond payments has once again entered the spotlight as bondholders, the majority of whom are insurance companies and pension funds, rejected a debt-restructuring proposal by WSKT that would extend a payment deadline by up to 10 years through a scheme of 3.5 percent interest on the principal.

Edition

November 24, 2023

The likelihood of a single-round 2024 presidential race

The campaign teams of the presidential and vice presidential candidate pairs are confident they can win the Feb. 14, 2024 race in only one round. However, although one of the tickets, namely Prabowo Subianto and his running mate Gibran Rakabuming Raka, slowly approaches the 50 percent mark in opinion surveys, experts maintain that the presidential election will most likely carry on to a runoff.

MIND ID on track in acquiring a controlling stake in Vale Indonesia

Vale Canada, a subsidiary of Brazilian mining firm Vale, and SMM, a unit of Japanese conglomerate firm Sumitomo Group, have finally agreed to divest parts of their stake in INCO to Indonesian state-owned mining holding company MIND ID. The initial deal was inked with the signing of a HoA on the sideline of the 2023 APEC Leaders' Meeting, bringing MIND ID to be one step closer to becoming INCO's controlling shareholder.

Edition

November 17, 2023

Election integrity undermined, post-polling violence becomes more likely

The integrity of the 2024 general election has been undermined by the recent decision to retain six justices on the Constitutional Court even though they have been found guilty of having committed ethics breaches when they issued a recent ruling related to the presidential election.

Ministry to revise regulation to cover Greater Jakarta LRT’s faulty tracks

The Transportation Ministry has confirmed that wheel wear on the Greater Jakarta LRT system was caused by design flaws in the rail tracks, particularly on tight, narrow curves that do not comply with Transportation Ministry Regulation No. 60/2012. Instead of rectifying the problematic rail designs on curves, however, the ministry is currently planning to revise the regulation to accommodate the existing rail designs.

Edition

November 10, 2023

Chief justice Anwar demoted but remains in court

Chief justice Anwar Usman has been removed from his post after the Constitutional Court's ethics council, led by Jimly Ashshiddiqie, found him guilty of committing a serious ethics violation. There have been calls for Anwar's removal since he cleared the way for his nephew, Surakarta Mayor Gibran Rakabuming Raka, to run for the country's second-highest office. Though the council's ruling has been lauded, many believe Anwar should have been dishonorably discharged.

Indonesia begins study for extending Whoosh! to Surabaya

The plan to extend the Whoosh! HSR to Surabaya is entering its early stages. The route extension, which currently only connects Jakarta and Bandung, is necessary to increase the high-speed public transport utilization from its current state. However, there are concerns regarding the possible downsides from continued partnership with China to develop the project, as well as calls for a more thorough feasibility study on the extension plan.